Meldov Pty Ltd v Bank of Queensland [2015] NSWSC 378

Supreme Court New South Wales

Medium Neutral Citation: Meldov Pty Ltd v Bank of Queensland [2015] NSWSC 378 Hearing dates: 18 February 2015 Date of orders: 07 April 2015 Decision date: 07 April 2015 Jurisdiction: Equity Division Before: Slattery J Decision: First mortgagee entitled to the full proceeds of sale under the first mortgage. Catchwords: MORTGAGES – "all moneys" clause in first mortgage – first mortgages mistakenly overpaid funds to mortgagor – following its mortgagee sale, the first mortgagee applies the proceeds of sale to reimburse itself for the overpayment – second mortgagor claims that the mistaken payment was not secured by the first mortgage – construction of "all moneys" clause – whether "all moneys" clause applies to obligation in restitution. Cases Cited: Andrews v Australia and New Zealand Banking Group Ltd (2011) 211 FCR 53 Australia and New Zealand Banking Group Ltd v Comer (1993) 5 BPR 11,748 Cuzeno RVM Pty Ltd v Overton Investments [2002] NSWSC 88; (2002) 10 BPR 19,425 Electricity Generation Corporation v Woodside Energy Ltd (2014) 251 CLR 640 Estoril Investments Pty Ltd v Westpac Banking Corporation (1993) 6 BPR 13,146 Fountain v Bank of America National Trust and Savings Association Jageev Pty Ltd v State Bank of New South Wales (No 2) Murphy; Re Bankrupt Estate of: Donnelly v Commonwealth Bank of Australia Ltd (1996) 140 ALR 46 Olympic Holdings Pty Ltd v Windslow Corporation Pty Ltd (in liq) (2008) 36 WAR 342 Oversea Chinese Banking Corporation v Malaysian Kuwaiti Investment Co Sdn Bhd [2003] VSC 495 Paciocco v Australia and New Zealand Banking Group Limited [2014] FCA 35 Pavey & Matthews Pty Ltd v Paul (1987) 162 CLR 221 Perpetual Trustee Co Ltd v Moussa [2013] NSWSC 131 Re Modular Design Group Pty Ltd (1994) 35 NSWLR 96 Rich v Westpac Banking Corporation [2014] NSWCA 136 Ronan v ANZ Banking Group Ltd (2000) 2 VR 531 Smith v Australia and New Zealand Banking Group Ltd (1996) NSW ConvR 55-774 Smith v Australia and New Zealand Banking Group Ltd (1999) NSW ConvR 55-884 Westpac Banking Corporation v Cvitanovic as Trustee of the Bankrupt Estate of Rich [2013] NSWSC 1759 Texts Cited: K Mason, JW Carter and GJ Tolhurst, Mason & Carter's Restitution Law in Australia (2nd ed 2008, LexisNexis Butterworths) Category: Procedural and other rulings Parties: Plaintiff: Meldov Pty Ltd (ACN 120 698 419) Defendant: Bank of Queensland (ACN 009 656 740) Representation: Counsel: Plaintiff: M.W. Young Defendant: N. Evans